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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Q. who wrote (1870)	10/10/1998 11:45:00 AM
From: drakes353	Read Replies (2) of 2506

John: the put/call ratio hit an extreme high Thursday of the sort one rarely sees except at the very bottom of a severe sell-off. Monday's Investor's Business Daily has a little blurb on that very subject. They said Thursday's put/call ratio was the highest level seen in that indicator since the December 9, 1994 bottom. FWIW, the S&P and Naz were up 38.1% and 47.7% respectively in the 12 months following the late '94 P/C ratio spike. The prospect of actually making a buck or two on my longs does have a certain appeal. Two other "must be some kinda bottom" indicators I've seen in the last two days. Wall Street Week (never watch it but happened to stumble into to it this week) celebrated their lone bearish guru by giving her a teddy bear. Friday morning one of CNBC's stock picking segments was devoted to which stocks the guest analysts thought people should be selling at this point. Can't remember ever seeing such a thing on CNBC. Regards, drakes353

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